ALTOONA CITY COUNCIL HAS LAID OUT SOME PLANS TO SPEND SOME OF ITS SHARE OF THE AMERICAN RESCUE FUND MONEY IT WILL RECEIVE.
ACCORDING TO A REPORT BY WTAJ, COUNCIL SAYS IT WILL SET ASIDE SOME $8 MILLION OF THE PROJECTED $39.2 MILLION ALTOONA WILL RECEIVE FOR 2 SPECIFIC PLANS. ONE IS TO SET ASIDE $5 MILLION FOR A REVOLVING LOAN PROGRAM. THIS WOULD HELP BUSINESSES IN ALTOONA TO APPLY FOR MONEY FOR SPECIFIC TYPES OF PROJECTS. THE SECOND PROPOSED PROGRAM WOULD TAKE $3 MILLION AND USE IT SPECIFICALLY FOR SMALL BUSINESSES. THIS WOULD HELP ANY SMALL BUSINESS RELOCATE INTO ALTOONA WITH SOME FINANCIAL ASSISTANCE. THE REPORT DID EMPHASIZE THAT THESE ARE JUST PRELIMINARY IDEAS WHICH COULD PROVIDE ECONOMIC DEVELOPMENT FOR THE CITY.
